Overview

There is no annual purchase limit for crypto in the following provinces:

• Alberta
• British Columbia
• Manitoba
• Quebec

The provinces and territories below have a crypto purchase limit:

• Ontario
• Newfoundland and Labrador
• Prince Edward Island
• Nova Scotia
• New Brunswick
• Nunavut
• Northwest Territories
• Yukon Territory
• Saskatchewan

Learn more about the crypto purchase limit

Crypto purchase limits depend on the specific cryptocurrency you buy.

There's no purchase limit for the crypto below. You can buy as much as you'd like of the following:

• Bitcoin (BTC)
• Ethereum (ETH)
• Litecoin (LTC)
• Bitcoin Cash (BCH)
• USD Coin (USDC)

For all other crypto, you can purchase a combined total of $30,000 in a 12-month period. This is a net purchase limit, meaning that purchases of crypto assets deplete your limit, and sales of crypto assets replenish your limit.

Deposits and withdrawals of crypto assets don't impact your limits, and sales of crypto assets won't increase your limit above $30,000.

Based on the financial information you've provided to Wealthsimple, you may be assigned a higher net purchase limit as an Eligible Crypto Investor ($100,000) or Accredited Investor (no limits). Eligible Crypto Investor and Accredited Investor status is determined by financial data you’ve reported to Wealthsimple:

Eligible Crypto Investor

• Your net assets, alone or with a spouse, exceed $400,000, and
  • Your net income before taxes exceeded $75,000 in each of the 2 most recent calendar years, or
  • Your net household income before taxes exceeded $125,000 in each of the 2 most recent calendar years

Accredited Crypto Investor

• Your net assets, alone or with a spouse, exceed $1,000,000, and
  • Your net income before taxes exceeded $200,000 in each of the 2 most recent calendar years, or
  • Your net household income before taxes exceeded $300,000 in each of the 2 most recent calendar years
• Your net assets, alone or with a spouse, exceed $5,000,000

You're obligated to provide accurate and up-to-date financial data. If you believe your financial details or investor status is incorrect, please contact us as soon as possible.

You can check your crypto purchase limit in the Wealthsimple app when initiating a crypto purchase order for a coin that falls under the limit. 

Purchase limit examples

Buys and sells

If you make a $30,000 buy of Chainlink (LINK), your net purchase limit will decrease from $30,000 to $0.

If you sell $10,000 of LINK, your net purchase limit will increase from $0 to $10,000.

Deposits and withdrawals

Deposits and withdrawals of crypto assets don't impact your net purchase limit. Following the example above, If you withdraw your remaining $20,000 in LINK, your net buy limit stays at $10,000.

If you deposit $10,000 of Dogecoin (DOGE) and sell it, your net purchase limit will increase from $10,000 to $20,000 because of the sale.

Rolling 12-month period

If you buy $15,000 of LINK on January 1, 2024, your net purchase limit will be $15,000. If you also buy $15,000 of DOGE on June 1, 2024, your net purchase limit will be $0.

On January 1, 2025, your net purchase limit will increase from $0 to $15,000, as 12 months will have elapsed since your $15,000 buy of LINK. Later on June 1, 2025, your net purchase limit will increase from $15,000 to $30,000, as 12 months will have elapsed since your buy of DOGE.